New Delhi (India), 1st June 2023: Government on Thursday nominated Ashwani Kumar as managing director of UCO Bank on Wednesday, succeeding Soma Sankara Prasad, whose term is coming to an end.
Kumar is currently an executive director at Indian Bank, and he was previously the Chief General Manager of Punjab National Bank.
The central government has appointed Ashwani Kumar as managing director and chief executive officer of UCO Bank for a three-year term, according to a notification from the Finance Ministry.
The appointment takes effect on or after June 1, 2023, or until additional directives are issued. Kumar will replace Soma Sankara Prasad, who is due to superannuate on May 31
According to an order issued by the Department of Personnel and Training, Kumar will also be eligible for a two-year extension of his term of office, or until further instructions, whichever comes first, following an evaluation of his performance.
Kumar, a chartered accountant, ascended through the ranks of five public-sector banks, including the Bank of Baroda, Corporation Bank, Oriental Bank of Commerce, Punjab National Bank, and Indian Bank.
He has worked in the wholesale banking sector and as the head of numerous branches (including the Industrial Finance Branches). He was the general manager of the mid and big corporate verticals, as well as the chief financial officer.
